Journals in Cimplico Workpapers function as they traditionally do in accounting - for instance, they can be used to:
Record end-of-year adjustments.
Move transactions between accounts.
Fix errors in the trial balance.
However, using journals directly in Cimplico Workpapers offers several advantages over making adjustments directly in your client’s ledger.
Why use journals in Cimplico Workpapers?
Whether you have a connected ledger (e.g., Xero) or a manual ledger (imported via CSV), journals in Cimplico Workpapers provide added functionality and convenience.
Connected Ledgers
Improved security and control: Cimplico allows you to control who can post journals. For example, preparers may only draft journals, leaving posting authority to reviewers and approvers.
Clear distinction between client data and adjustments: Journals in Cimplico keep client adjustments separate from the original trial balance, avoiding confusion about what belongs to the client’s file and what adjustments you’ve made.
Draft and posted journals: You can create draft journals to see the impact of a transaction before posting, helping you analyse adjustments without committing to them immediately.
Manual Ledgers (Imported via CSV)
Efficient journal management: Recording journal adjustments directly in Cimplico eliminates the need to re-import multiple CSVs every time adjustments are made, saving time and reducing errors.
Draft journals for flexibility: Preparers can create draft journals to assess the impact of adjustments before they are finalised, providing greater control over the trial balance.
💡 Tip: To update a workpaper's security settings to allow preparers to post journals, refer to this article: Editing workpaper settings.
How can I view journals in Cimplico Workpapers?
Cimplico Workpapers provides two ways to view journals, ensuring you have clear visibility into adjustments:
Journals Page: The Journals page allows you to view all journals created for a workpaper in one place. This provides a comprehensive overview of all adjustments made across accounts.
Within Worksheets: You can view all journals affecting a specific trial balance account directly within that account's worksheet. This enables you to focus on adjustments relevant to a particular account while working on it.
